Furniture Brands falls 8% on lowered 2008 guidance

Furniture Brands International Inc. (NYSE:FBN) is off 8% today after the company lowered its 2008 guidance after the close on Tuesday. The company now expects a net loss per share for 2008 of $0.49 to $0.55, compared with previous estimates of $0.40 to $0.60. The company lowered net sales to between $1.75 billion and $1.8 billion, down from prior forecasts of $1.9 billion to $2 billion.  

Furniture Brands is a St. Louis, Mo.-based home furnishings retailer, which has been hit hard by the slump in the economy and lower consumer spending. The stock is down more than 34% from a year ago. In today’s trading, shares are at $9.35 at 9:54 a.m. ET, down $0.87 from Tuesday’s close. Shares have ranged from $6.82 to $15.46 during the past year.

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